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<Research>BOCI: XIAOMI-W (01810.HK) 1Q Results Likely to Beat Pessimistic Forecasts
Recommend 42 Positive 94 Negative 27 |
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BOCI published a research report forecasting that XIAOMI-W (01810.HK)'s 1Q26 total revenue will be RMB100 billion, down about 14% QoQ, mainly dented by an over 40% decline in vehicle deliveries. In terms of gross margin, the broker expected core businesses to outperform the market's pessimistic expectations. Smartphone gross margin is projected to rebound to above 9.5%, while the IoT segment is expected to return to a high level of 25%. While acknowledging that a near-term inflection point in fundamentals has yet to emerge, BOCI remained positive on the Company's underlying resilience to emerge from the cyclical trough, and believed that XIAOMI-W's unique 'Human x Car x Home' ecosystem and self-developed full-stack AI capabilities could position it as a leader in the rise of the physical AI era. Therefore, the broker kept rating at Buy, with a target price of $41.6. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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